AGCO (NYSE:AGCO) Issues Earnings Results

AGCO (NYSE:AGCO) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40), Briefing.com reports. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company earned $3.97 earnings per share. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. AGCO updated its FY 2024 guidance to 7.500-7.500 EPS and its FY24 guidance to approx $7.50 EPS.

AGCO Price Performance

Shares of AGCO stock opened at $94.12 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.52 and a debt-to-equity ratio of 0.89. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a market cap of $7.03 billion, a P/E ratio of 16.81, a P/E/G ratio of 0.93 and a beta of 1.25. The business has a fifty day simple moving average of $95.67 and a 200 day simple moving average of $99.49.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. AGCO’s dividend payout ratio is currently 20.71%.

Wall Street Analysts Forecast Growth

AGCO has been the topic of a number of research reports. Robert W. Baird decreased their price objective on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays reduced their target price on AGCO from $145.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, July 18th. Citigroup increased their target price on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, StockNews.com lowered AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, AGCO presently has an average rating of “Hold” and an average price target of $114.40.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.